Candriam Luxembourg S.C.A. lowered its position in Enbridge Inc. (NYSE:ENB) by 2.4% during the second quarter, Holdings Channel reports. The institutional investor owned 23,129 shares of the company’s stock after selling 564 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Enbridge were worth $975,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of ENB. IFP Advisors Inc raised its stake in shares of Enbridge by 15.5% in the first quarter. IFP Advisors Inc now owns 6,695 shares of the company’s stock worth $261,000 after buying an additional 899 shares in the last quarter. Ngam Advisors L.P. raised its stake in shares of Enbridge by 16.3% in the first quarter. Ngam Advisors L.P. now owns 127,799 shares of the company’s stock worth $4,973,000 after buying an additional 17,911 shares in the last quarter. Nikko Asset Management Americas Inc. acquired a new stake in shares of Enbridge during the first quarter worth about $225,000. NN Investment Partners Holdings N.V. acquired a new stake in shares of Enbridge during the first quarter worth about $2,757,000. Finally, Burgundy Asset Management Ltd. raised its stake in shares of Enbridge by 31,006.2% in the first quarter. Burgundy Asset Management Ltd. now owns 3,241,579 shares of the company’s stock worth $126,354,000 after buying an additional 3,231,158 shares in the last quarter. 66.77% of the stock is owned by hedge funds and other institutional investors.
Shares of Enbridge Inc. (NYSE:ENB) traded up 0.07% on Friday, reaching $42.98. The company had a trading volume of 1,162,710 shares. Enbridge Inc. has a 12 month low of $27.43 and a 12 month high of $45.77. The firm has a market capitalization of $40.15 billion, a PE ratio of 38.97 and a beta of 0.64. The firm’s 50 day moving average is $42.74 and its 200 day moving average is $41.24.
Enbridge (NYSE:ENB) last released its quarterly earnings results on Friday, July 29th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.53 by $0.03. Enbridge had a return on equity of 12.96% and a net margin of 4.29%. During the same period in the previous year, the business earned $0.60 EPS. On average, equities research analysts expect that Enbridge Inc. will post $1.77 earnings per share for the current fiscal year.
A number of brokerages have weighed in on ENB. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $64.00 target price on shares of Enbridge in a research report on Wednesday, June 29th. Zacks Investment Research lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. National Bank Financial lowered Enbridge from an “outperform” rating to a “sector perform” rating in a research report on Monday, July 18th. Goldman Sachs Group Inc. lowered Enbridge from a “buy” rating to a “neutral” rating and decreased their target price for the company from $44.00 to $42.00 in a research report on Wednesday, July 20th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $61.00 target price on shares of Enbridge in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Enbridge has an average rating of “Buy” and an average price target of $56.50.
Enbridge Company Profile
Enbridge Inc (Enbridge) is an energy transportation and distribution company. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. The Company operates the crude oil and liquids transportation system in Canada and the United States.